A Closer Look at Revolutionary Relationship between IoT Technology & Pharma

In today's world, the Internet of Things (IoT) has become a significant buzzword. But it’s much more than that. IoT implementation is legitimately a boon in practically every industry, with IoT technology and embedded devices adding value across a wide range of applications and environments due to their adaptability. IoT is an appealing tool for businesses of all sizes as it allows them to boost automation and improve data processing and analytics. IoT devices will continue to drive the revolution in a range of industries over the next decade for these reasons. We can expect solutions to become more refined as the tech advances and more vendors consequently enter the market. Businesses that grasp the benefits of IoT and embedded devices in their industries will be well-positioned to reap the rewards. The pharma sector faces several existing challenges that could be tackled with new technologies. For example, it has always faced a challenge in ensuring safe and secure medicine production and delivery, stemming from a lack of transparency of the procedures taking place. This has naturally negative consequences, such as inefficient medical waste, financial loss, and even patient mistreatment. To stay competitive, maximize time-to-market, eliminate shipment delays, and decrease waste, pharma businesses must address how to gain more control over their operations within and outside their facilities. All while refining their drugs and providing more effective care to a wider range of patients.

The IoT and Pharma Synergy in Action

The new IoT age is well-positioned to equip pharmaceutical companies with the tools they need to meet market demand. The Internet of Things has the potential to unite the environment, people, equipment, and supply chains into a single framework, improving pharma operations' agility, safety, and cost-efficiency. Here are a few applications already thriving:

1. Track and trace system

IoT tech can deliver data onto a single dashboard, alerting supervisors to maintenance requirements and arming analysts with insights. Devices can also connect to automatic shutoffs to immediately and remotely handle critical conditions as they arise. The mobiVUE track and trace system offers a real-time view of your supply chain. As a result, it enables pharmaceutical companies to increase the overall efficiency of the manufacturing processes.

2. Asset management system

Take a healthcare institution. Like a hospital, one that manages and controls a mind-boggling number of assets. An operation like this demands optimal inventory management if you’re looking for any level of success. And IoT devices supercharge this need in ways no alternative can match—with tagging, system checks, and diagnostics all managed remotely and in real time. In addition, hospital operators can even rely on IoT devices to review inpatient flow to make decisions about resource capacity, which demands resources even at uncertain times.

3. Smart Pills and Implanted Devices

Leading pharmaceutical companies have been using medication or medical monitors in the form of ’smart pills’ for quite a while now. Smart pills are implanted devices that can detect changes in a patient's medical condition. And their advantages are obvious - from real-time diagnosis that can save lives, to invaluable info for research in relatively unexplored fields. For example, if there is a severe event, such as a hypoglycemic episode, a device can immediately alert a physician or paramedic. In addition, it can inform the patient about how well the medication is working. Smart pills also check if the patients are taking their medications on schedule or not. If they miss a dose, it will give them a quick reminder on their phone to help get them back on track. And if they miss their schedule, it notifies their physician.

4. Smart Wearable Devices

IoT in pharma introduced us to affordable wearable devices and mobile apps to encourage patient adherence. Traditional monitoring of patients relied solely on subjective evaluations. Unfortunately, many patients don't report any symptoms until the problem becomes severe and might not ask for help in an emergency. By timely monitoring, you can detect the early signs of a severe medical event and alert the appropriate party. As a result, doctors and pharmaceutical company representatives can monitor progress and issues.

5. Vehicle tracking system

Tracking the source of supplies is essential to maintaining the quality and speed of production. Via IoT, pharmaceutical enterprises can easily track the availability of materials and have both a bird’s eye view (and a granular look) at their supply chains. Whether it is about ensuring the smooth flow of materials inside your premises or ascertaining a minimum waiting time for trucks inside the plant, IoT has you covered on all fronts. Pharma companies are already reinventing their supply chains with BCI’s mobiVUE vehicle tracking system.

IoT & Pharma: The Future

IoT will deliver significant benefits across functions in the pharmaceutical industry. This is a huge opportunity for pharma companies to improve their monitoring and tracking technology and systems to achieve better patient outcomes. But how? Barcode India offers solutions & advanced BI tools providing various benefits. To find out more about IoT technology and help enhance the pharmaceutical sector's level, contact us!